Monday, February 16, 2009

Japanese Economy Crumbling

FT Alphaville reports:
Japan’s economy shrank at an annual 12.7% pace last quarter, the most since the 1974 oil shock, as recessions in the US and Europe triggered a record drop in exports, reports Bloomberg. GDP fell for a third straight quarter in the three months to Dec 31, down a quarterly 3.3%, the government said Monday in Tokyo. Exports plunged an unprecedented 13.9% from the third quarter as demand for cars and televisions collapsed amid a slump that the G7 nations said will persist for most of 2009.


Source: ESRI
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2 comments:

  1. AnonymousFebruary 18, 2009 at 10:13 AM

    I'm sort of curious. Since when to use linearity to define the future? If the S&P drops 20% in one quarter, do we annualize the losses at 80%? This metric is silly.

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  2. JakeFebruary 19, 2009 at 9:05 PM

    i see your point. GDP is often annualized, but i'm not really sure why...

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